Seattle daily post-intelligencer. [volume] (Seattle, W.T. [Wash.]) 1881-1888, 1887-05-18
PACIFIC RAILxOADs
gAY GOULD TKsTIFIEs BEFORE THK PACIFIC
RAILROAD COMMISSIONS.

RAILROAD cJAAlssIoN.
NHw YoRK. Nay lf.-In the PAoitis
railroad Investigation todsy. the we'll
known broker, John Ponder, was on
the stand. Ponder went over the old
ssory OF the Credit MsbilieF, and took
occasion to Vindieate OAkes Ames, say
ing that be vas an honorable man and
vas killed by the infamous stories told
concerning him. Ponder attempted 20
ahoS the connection Of Blaine with toe
Credit MobilieF. He said that Uhsn
Tom Scott vas elected President of the
Union Pacific. Scott told the witness
that be had 50 bends which belonsed 70
Blaine for which the Union Paoifie
would have 50 pay.
jay Gould vas tue next placed on the
stand and gave at length bis oonnec-
ton With the Uai0n PAeiaa.
He said bis books containing the 81
counts Of the transaction we're at the
service OF the Commission. when the
pool agreement Of 1878 vas exhibited be
recalled the facts Of its eGislenoe and
acknowledged signing for over % 600 0OO
worth OF securities. His books would
shOW whst be paid for them. They
we're entered 81 30 cents. The only Nay
0ut Of the diffisalty vas 10 take the
mass of securities 10 one mans hands
and issue consolidated mortgage bonds
as q preliminary step 10 placing the
security on its feet. De agreed to 60
oept 80 ceats As his part Of the securi-
ties. A Rnod many thoaRht the price
too Iow. Toe unstampsd bonds had 9
better lien than The stamped, aud thsis
Aw.A - N aanea Il - .,
demonstrated that the pool agreement
geald net carry. and the Consolidated
mortgages we're agreed upon bstwsen
April. 1871, aud May, 1873. Tue obi sot
Of the consolidated mortgages vas "a
consolidate the hsgsFogeneoas macs OF
securities andsF one nnifoFm seeariiy.
Tue last Of these bonds Was hsld
By Amss and htmsslf. He thonghl 90
s-nts w.s fair price for hi-
t2 000, ,oo Of stamped income bonds aud
IoAI vas the pFIoe be took for al thai
De bad 10 the posl. Al the tius Of sue
>onsolid4tiSn be owned 90 80 shares q
Uaioa Paeiee worth 93k AID q 90
s0rth 9S. The latter Sas immensely
valuable property, bat hsd been badly
mahaRsd- ne 0 esumed shs reason thai
ss oousht the income bonds cas- Be
sAnse they wers 90 The sastern end Of
the road. ita vAluable , flioB. he
sr5aRut Of Ana,srdam people and Vald
tor & 0oo 00C sorth of Denver Pse ns
oosdA. He believed the priee "a ~,
shleh 90. the pFies for Which be s0l0
t6SSa 70 Mr.. 3 age. Ibe roads east iron
On Aha, by foFatoe the Z non Paoiao 70
a pro sase, made 10 pscsssary 70 Res an
oatist oy ths n snniual 4 81. 10 aud Toe
w aosAh 4 SOaihern roads, - - % pre-
vsnt tbaI ToAt is Sbat rseae %. e
aeq lisstlOns desiRAbls 30 the 7 lioo re
ciGe. Ia addIsisa % the atoek ne 0sao
40 te the ttms II ths eonsolidAalon, ns
said be owDed 9 per ssut. Of ioe oossol.
iIs,sd boocs Of th- KsnsAs Pac 10 "a
ss.s anOans Of t2.6D0o sod Uaion
| Pas no eslIstsrAI siKea 70 toe sa - ~
al Oo0O00. Oa the lea Of JAnaAEg. 1913
hs osnod 10. .O0 saaees Of ths Onlo.
Pacific ssook. 4 little more tnan yea
/ IstsF he wAs clear 90 the boss OF 10
Uaiou Pss1es RAilr0sd- 1nsre sAs
] lac IN Massachusetts thAa allowed An1